vs
Side-by-side financial comparison of Kyndryl Holdings, Inc. (KD) and MARKEL GROUP INC. (MKL). Click either name above to swap in a different company.
Kyndryl Holdings, Inc. is the larger business by last-quarter revenue ($3.9B vs $3.6B, roughly 1.1× MARKEL GROUP INC.). MARKEL GROUP INC. runs the higher net margin — 16.1% vs 1.5%, a 14.6% gap on every dollar of revenue. On growth, Kyndryl Holdings, Inc. posted the faster year-over-year revenue change (3.1% vs -6.9%). MARKEL GROUP INC. produced more free cash flow last quarter ($599.1M vs $208.0M). Over the past eight quarters, Kyndryl Holdings, Inc.'s revenue compounded faster (0.1% CAGR vs -10.5%).
Kyndryl Holdings, Inc. is an American multinational information technology infrastructure services provider, headquartered in New York City and created from the spin-off of IBM's infrastructure services business in 2021. The company designs, builds, manages and develops large-scale information systems. The company also has business advisory services. It is currently the world's largest IT infrastructure services provider, and the fifth-largest consulting provider.
MARKEL GROUP INC.MKLEarnings & Financial Report
Markel Group Inc. is a group of companies headquartered in Richmond, Virginia, and originally founded in 1930 as an insurance company.
KD vs MKL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.9B | $3.6B |
| Net Profit | $57.0M | $576.8M |
| Gross Margin | 21.8% | — |
| Operating Margin | 2.4% | 22.2% |
| Net Margin | 1.5% | 16.1% |
| Revenue YoY | 3.1% | -6.9% |
| Net Profit YoY | -73.5% | 5.0% |
| EPS (diluted) | $0.25 | $48.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.9B | $3.6B | ||
| Q3 25 | $3.7B | $3.9B | ||
| Q2 25 | $3.7B | $4.6B | ||
| Q1 25 | $3.8B | $3.4B | ||
| Q4 24 | $3.7B | $3.8B | ||
| Q3 24 | $3.8B | $4.6B | ||
| Q2 24 | $3.7B | $3.7B | ||
| Q1 24 | $3.9B | $4.5B |
| Q4 25 | $57.0M | $576.8M | ||
| Q3 25 | $68.0M | $751.3M | ||
| Q2 25 | $56.0M | $657.1M | ||
| Q1 25 | $69.0M | $121.7M | ||
| Q4 24 | $215.0M | $549.2M | ||
| Q3 24 | $-43.0M | $905.0M | ||
| Q2 24 | $11.0M | $267.7M | ||
| Q1 24 | $-45.0M | $1.0B |
| Q4 25 | 21.8% | — | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | 21.7% | — | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 21.5% | — | ||
| Q1 24 | 18.6% | — |
| Q4 25 | 2.4% | 22.2% | ||
| Q3 25 | 2.6% | 25.7% | ||
| Q2 25 | 2.5% | 24.1% | ||
| Q1 25 | 3.1% | 8.3% | ||
| Q4 24 | 6.9% | 15.5% | ||
| Q3 24 | -0.1% | 29.7% | ||
| Q2 24 | 1.7% | 11.1% | ||
| Q1 24 | -0.1% | 29.9% |
| Q4 25 | 1.5% | 16.1% | ||
| Q3 25 | 1.8% | 19.1% | ||
| Q2 25 | 1.5% | 14.3% | ||
| Q1 25 | 1.8% | 3.6% | ||
| Q4 24 | 5.7% | 14.3% | ||
| Q3 24 | -1.1% | 19.6% | ||
| Q2 24 | 0.3% | 7.2% | ||
| Q1 24 | -1.2% | 23.0% |
| Q4 25 | $0.25 | $48.22 | ||
| Q3 25 | $0.29 | $59.25 | ||
| Q2 25 | $0.23 | $49.67 | ||
| Q1 25 | $0.30 | $12.08 | ||
| Q4 24 | $0.89 | $39.02 | ||
| Q3 24 | $-0.19 | $66.25 | ||
| Q2 24 | $0.05 | $18.62 | ||
| Q1 24 | $-0.19 | $75.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $4.0B |
| Total DebtLower is stronger | $2.3B | $4.3B |
| Stockholders' EquityBook value | $1.2B | $18.6B |
| Total Assets | $11.3B | $68.9B |
| Debt / EquityLower = less leverage | 1.92× | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.3B | $4.0B | ||
| Q3 25 | $1.3B | $4.0B | ||
| Q2 25 | $1.5B | $3.7B | ||
| Q1 25 | $1.8B | $4.2B | ||
| Q4 24 | $1.5B | $3.7B | ||
| Q3 24 | $1.3B | $3.9B | ||
| Q2 24 | $1.3B | $3.5B | ||
| Q1 24 | $1.6B | $3.6B |
| Q4 25 | $2.3B | $4.3B | ||
| Q3 25 | $3.0B | $4.3B | ||
| Q2 25 | $3.0B | $4.4B | ||
| Q1 25 | $3.0B | $4.4B | ||
| Q4 24 | $3.1B | $4.3B | ||
| Q3 24 | $3.1B | $4.4B | ||
| Q2 24 | $3.1B | $4.4B | ||
| Q1 24 | $3.1B | $3.9B |
| Q4 25 | $1.2B | $18.6B | ||
| Q3 25 | $1.2B | $18.0B | ||
| Q2 25 | $1.2B | $17.3B | ||
| Q1 25 | $1.2B | $17.1B | ||
| Q4 24 | $1.1B | $16.9B | ||
| Q3 24 | $1.1B | $17.0B | ||
| Q2 24 | $996.0M | $15.9B | ||
| Q1 24 | $1.0B | $15.7B |
| Q4 25 | $11.3B | $68.9B | ||
| Q3 25 | $11.2B | $67.4B | ||
| Q2 25 | $11.5B | $66.8B | ||
| Q1 25 | $10.5B | $64.6B | ||
| Q4 24 | $9.9B | $61.9B | ||
| Q3 24 | $10.4B | $62.3B | ||
| Q2 24 | $10.2B | $59.7B | ||
| Q1 24 | $10.6B | $57.3B |
| Q4 25 | 1.92× | 0.23× | ||
| Q3 25 | 2.45× | 0.24× | ||
| Q2 25 | 2.44× | 0.25× | ||
| Q1 25 | 2.50× | 0.26× | ||
| Q4 24 | 2.81× | 0.26× | ||
| Q3 24 | 2.92× | 0.26× | ||
| Q2 24 | 3.12× | 0.28× | ||
| Q1 24 | 3.07× | 0.25× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $428.0M | $662.2M |
| Free Cash FlowOCF − Capex | $208.0M | $599.1M |
| FCF MarginFCF / Revenue | 5.4% | 16.7% |
| Capex IntensityCapex / Revenue | 5.7% | 1.8% |
| Cash ConversionOCF / Net Profit | 7.51× | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $299.0M | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $428.0M | $662.2M | ||
| Q3 25 | $146.0M | $1.2B | ||
| Q2 25 | $-124.0M | $504.4M | ||
| Q1 25 | $581.0M | $376.2M | ||
| Q4 24 | $260.0M | $493.9M | ||
| Q3 24 | $149.0M | $890.8M | ||
| Q2 24 | $-48.0M | $578.6M | ||
| Q1 24 | $145.0M | $630.7M |
| Q4 25 | $208.0M | $599.1M | ||
| Q3 25 | $17.0M | $1.2B | ||
| Q2 25 | $-267.0M | $453.8M | ||
| Q1 25 | $341.0M | $335.5M | ||
| Q4 24 | $151.0M | $420.0M | ||
| Q3 24 | $15.0M | $838.9M | ||
| Q2 24 | $-170.0M | $521.4M | ||
| Q1 24 | $-57.0M | $558.7M |
| Q4 25 | 5.4% | 16.7% | ||
| Q3 25 | 0.5% | 29.6% | ||
| Q2 25 | -7.1% | 9.9% | ||
| Q1 25 | 9.0% | 9.9% | ||
| Q4 24 | 4.0% | 10.9% | ||
| Q3 24 | 0.4% | 18.2% | ||
| Q2 24 | -4.5% | 14.1% | ||
| Q1 24 | -1.5% | 12.5% |
| Q4 25 | 5.7% | 1.8% | ||
| Q3 25 | 3.5% | 1.3% | ||
| Q2 25 | 3.8% | 1.1% | ||
| Q1 25 | 6.3% | 1.2% | ||
| Q4 24 | 2.9% | 1.9% | ||
| Q3 24 | 3.6% | 1.1% | ||
| Q2 24 | 3.3% | 1.5% | ||
| Q1 24 | 5.2% | 1.6% |
| Q4 25 | 7.51× | 1.15× | ||
| Q3 25 | 2.15× | 1.62× | ||
| Q2 25 | -2.21× | 0.77× | ||
| Q1 25 | 8.42× | 3.09× | ||
| Q4 24 | 1.21× | 0.90× | ||
| Q3 24 | — | 0.98× | ||
| Q2 24 | -4.36× | 2.16× | ||
| Q1 24 | — | 0.62× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KD
| Principal Markets Segment | $1.4B | 37% |
| United States Segment | $958.0M | 25% |
| Strategic Markets Segment | $905.0M | 23% |
| Other | $568.0M | 15% |
MKL
| Industrial | $1.6B | 45% |
| Consumer And Other | $958.3M | 27% |
| Financial | $737.0M | 21% |
| Other | $198.8M | 6% |
| Corporate Operations | $52.0M | 1% |
| Revenue From Contract With Customer | $10.5M | 0% |
